On August 2nd, it was reported that the good things in Angang and Panzhihua had finally settled.
On July 28th, Angang's head Zhang Xiaogang and Pangang's head Fan Zhengyi and other high-level officials opened a champagne cork in Beijing, announcing a formal marriage: On the same day, Angang and Panzhihua Steel Reorganization Conference was held. According to the restructuring plan, after the reorganization, Angang Group was established as the parent company, and Angang and Pangang were both wholly-owned subsidiaries of Angang Group.
As early as a few years ago, the rumors of WISCO's reorganization of Pangang have been rampant, and there has been no substantial progress in the restructuring of Angang and Benxi Steel. One is far from the northeast and one is located in the southwest. The two steel giants are now dramaticly “jointed and tiedâ€, which is very interesting.
What is behind this much-watched marriage? The resurgence of the domestic steel industry has come?
The marriage between the two sides will become the leader of the national steel industry
Last year, the state promulgated the "Steel Industry Adjustment and Revitalization Plan", which clearly stated that: China's steel industry joint restructuring should achieve significant progress within three years, and form a number of large-scale enterprise groups with strong independent innovation capabilities and international competitiveness. The top 5 steel group production capacity should reach more than 45%! At that time, the industry analysts analyzed that the domestic steel industry will usher in another wave of reorganization and mergers, and the marriage between Angang and Panzhihua is the most concerned, and it is quite expected.
A well-informed person told reporters that in fact, as early as 2008, *ST vanadium and titanium predecessor Panzhihua Steel and Vanadium absorbed the merger of the Group's Panzhi Titanium Industry and *ST Changgang in the form of a share swap. Angang Group is providing for the merger. At the same time, in order to make the integration of the Panzhihua Iron and Steel Department go smoothly, Angang also spent billions of dollars to increase the holdings of the three listed companies in the Pangang Group. The reorganization of Angang and Panzhihua Iron & Steel Co., Ltd. began to show its clues, and related rumors began to end in the market.
According to public information, Anshan Iron and Steel Co., Ltd. is located in Anshan City, Liaoning Province. The proven iron ore reserves account for about a quarter of the national reserves. At present, Angang Group's production capacity reaches 25 million tons, which is the second largest in China in terms of production capacity. Steel enterprise. Located in Panxi, Sichuan, Panzhihua Iron and Steel is China's largest production base for vanadium products and railway steel. It is also the largest titanium raw material production base in China and the only chlorinated titanium white production base in China. It is the second largest producer in the world. Vanadium business.
On the day of the reorganization meeting, Zhang Xiaogang, secretary of the Party Committee and general manager of Anshan Iron and Steel Group, said in a high-profile manner that in order to realize the real substantive restructuring of the two companies, Angang Group has already determined the development strategy and goals for the new era: the corporate vision is to become the leading boss of the Chinese steel industry and “ By the year of 2015, the annual output of steel has entered the top five in the world steel industry, becoming the world's leading steel industry, the world's leading vanadium industry, the largest domestic titanium industry, the most internationally competitive, and capable of leading the world's steel industry. group.
Fan Zhengyu, chairman of Pangang, also said that it will be integrated into the overall strategy of Ansteel Group to locate and plan the development of Panzhihua Iron and Steel's vanadium-titanium steel in the overall strategy of Ansteel Group, and strive to complete Panzhihua's second venture in 3-5 years. The scale and technology of the vanadium industry is the highest in the world. The scale of the titanium industry is the first in China and has an important influence in the world. The steel industry has been upgraded in an all-round way.
Some analysts pointed out that the current production capacity of Angang Group is 25 million tons, while the production capacity of Pangang Group is about 10 million tons. After the reorganization, the newly established Angang Group's production capacity will reach 35 million tons, surpassing the capacity of Baosteel's headquarters. It is inevitable to sit firmly on the top spot in the domestic steel industry.
Strong alliance with China's steel industry to stage "double swords combined"
In this marriage, the State-owned Assets Supervision and Administration Commission of the State Council has acted as a "matchmaker". After several "coincidences", it can be said that it is well-intentioned.
A person familiar with the matter told reporters that Anshan Iron and Steel and Panzhihua Iron and Steel have reorganized this time very smoothly. First, because both sides are under the direct jurisdiction of the State-owned Assets Supervision and Administration Commission of the State Council, there is no local protectionism and the interests of local governments, so the restructuring will be relatively smooth; Because the two sides have a very historical origin, when Panzhihua was founded, it was strongly assisted by Angang. The two sides are better in many aspects of corporate culture and emotional foundation. "The two sides are together, it can be said that the situation is right, it is a hit!" the person familiar with the matter said.
The person familiar with the matter also revealed that before Angang had planned to reorganize with Benxi Iron and Steel, it has been “completely and inconsistentlyâ€, and has not made any substantial progress. “Anshan Iron and Steel and Panzhihua Iron and Steel are all the SASAC’s mother-in-law’s reorganization. It’s much smoother than the saddle, there is no interference in the place!â€
"This reorganization is a strong alliance and complementary advantages. It can be described as a 'double sword combination' in China's steel industry. Unlike the previous cross-regional integration, it is mostly large and small." A person in charge of the Sichuan Steel Circulation Chamber of Commerce Tell the reporter.
The person in charge said that on the one hand, Panzhihua Iron and Steel is located in the southwest, lacking strong capital and technical support, the production capacity has been around 10 million tons, and the development of unique mine resources is not enough. After the reorganization, Panzhihua Iron and Steel Co., Ltd. can leverage the capital, technology and management advantages of Anshan Iron and Steel Co., Ltd. to fully develop the advantageous industries such as vanadium and titanium and heavy rail. On the other hand, Angang has opened the southwest market. Anshan Iron and Steel's development strategy is mainly concentrated on special steel and other high value-added plates, while Pangang has obvious market advantages in special steel, and its heavy rail and vanadium and titanium products are the first in China.
Relevant information shows that Panzhihua Iron and Steel Group Co., Ltd. is the steel production base with the highest intensity level, the most complete variety and the largest scale in China. The domestic market share of high-speed railway rails is 60%. Guangzhou-Shenzhen quasi-high-speed railway, Beijing-Kowloon line and Qinshen passenger transport The special line, Daqin heavy-duty coal transportation line and important lines such as Beijing, Shanghai, Guangzhou and Hong Kong subways have all laid steel rails of Panzhihua Iron and Steel. Since Anshan Iron and Steel has been reviewed and approved by the Ministry of Railways in July 2007, its high-speed railway rails have also become popular. In the first tender of the Zhengzhou-Xi'an high-speed passenger line, Angang Group obtained an exclusive 40,000 tons of rails.
“The reason why Pangang’s rails are widely used is that they contain vanadium in their steel, which can significantly increase the strength of the rails. After the two companies are reorganized, they can expand their market advantages,†said the industry analysts. The product structure is unique, and after the reorganization, synergies will be produced, and the heavy rail of Panzhihua Iron and Steel will gain development opportunities. "China needs to build nearly 20,000 kilometers of high-speed rail. Heavy-duty rail is a must-have product for high-speed rail. Panzhihua has an advantage in this respect. After the reorganization, it will be a strong combination."
Behind the marriage, WISCO once thrown hydrangea and climbed steel is not happy?
In fact, as early as three years ago, the industry has been rumored that "Wugang reorganized Pangang," because Pan Zhenggang, the current chairman and party secretary of Pangang, came from Wuhan Iron and Steel. However, "Wugang reorganized to climb steel" has not been the following.
A person inside the Pangang Group revealed to reporters that although the scale of Panzhihua Iron and Steel was not as good as that of Wuhan Iron and Steel, in recent years, the “big move†continued, and its vanadium and titanium industry “only I am the only one†has great development potential. In addition, Pangang was planning an overall listing at the time. “Panggang clearly had its own ideas at the time, and WISCO’s restructuring of Pangang could not be done!â€
At that time, in response to the rumors of "Wugang reorganized Panzhihua Iron and Steel", the responsible person of Panzhihua Iron and Steel Co., Ltd. had accepted public rumors from media reporters. The person in charge said that Fan Zhengyu, the head of Pangang, also publicly stated that Panzhihua Iron and Steel and Wugang have their own advantages in industrial layout. There is almost no commonality in cooperation in terms of products, technology and market, let alone reorganization. And Pangang has been seeking an overall listing.
"For the 'Red Hydrangea' thrown by WISCO, it may be just a 'wishful wish'", the person in charge said at the time that even if you want to seek cooperation partners, you need to find a more powerful companion.
It is quite dramatic that, after three years, Angang and Panzhihua Iron and Steel have announced a high-profile marriage, which makes the WISCO, which frequently shows "love", somewhat lost.
A person close to the Pangang Group told reporters that in fact, before this marriage, Pangang has been committed to the industrial structure and strategic shift. "This marriage with Angang has made the fast-growing Pangang undoubtedly a fish!"
The source revealed that as early as 2007, Pangang Group and Liangshan Prefecture Government held an investment of 17.6 billion yuan to build a comprehensive utilization base for Xichang vanadium-titanium steel. "This is equivalent to rebuilding a production base for climbing steel!" A moment caused a sensation in the industry. After the completion of the Xichang base, Panzhihua Iron and Steel will form four production bases in Chengdu, Panzhihua, Jiangyou and Xichang, and further build four characteristic industrial patterns such as fine steel, vanadium and titanium, special steel and seamless steel pipes.
In order to get rid of the bottlenecks of logistics and information, as early as a few years ago, Panzhihua Steel took the strategic shift to the central city: investing 500 million yuan in the Chengdu High-tech Zone to build the Panzhihua Steel Technology Center; investing hundreds of millions of yuan in the Chengdu Old Exhibition The headquarters office building will be built around the center, and the four major sections of management, financial capital operation, marketing and technology will be relocated to Chengdu.
"Today, Panzhihua and Angang have joined forces to build China's largest steel carrier. From all kinds of signs, it is not surprising that Panzhihua has stepped forward to today!" said the person.
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